Speech

Queen's Speech - Equitable Life Payments Scheme Bill

Notes on: "Legislation will reform the framework for financial services Regulation and implement the Government's commitment to make fair and transparent payments to Equitable Life policyholders."

From:
Prime Minister's Office, 10 Downing Street and Her Majesty the Queen
Published
25 May 2010
This was published under the 2010 to 2015 Conservative and Liberal Democrat coalition government
Delivered on:
(Speaker's notes, may differ from delivered version)

The purpose of the Bill

  • Give HM Treasury statutory authority to incur expenditure in making payments to Equitable Life policyholders.

The main benefits of the Bill

  • To make it possible to make payments to Equitable Life policyholders and other individuals (e.g. former policyholders) who have suffered losses due to Government maladministration.

The main elements of the Bill

  • Give HM Treasury statutory authority to incur expenditure in making payments to Equitable Life policyholders.

Devolution

All provisions in the Bill are reserved.

Published 25 May 2010